Lawyer turned trader & speculator 🔋 ⚽️ 🐱 🚘 🍺
Joined February 2023
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$envx
New PR.
“We are keeping a lid on costs in every other location and investing in Korea, where we expect 2027 revenue to be a multiple of 2026 revenue.”
ir.enovix.com/news-releases/…
$envx
New job ad for Sr / Account Payable Specialist in Penang
“to join our growing accounting team. In this role, you will play a key part in supporting the financial operations of a rapidly expanding company. Reporting to the Enovix Malaysia Lead Accountant, you will be part of the AP Shared Services team covering the US, Malaysia, and India regions.”
$envx
I asked IR to clarify the circumstances surrounding the CLO departure. Response is set out below:
“In the company’s recent letter to shareholders, Enovix discussed initiating a cost reduction plan and with Ryan taking on the interim CEO role, he has been making some personnel changes. He has a very strong head of SEC reporting who will be stepping in as interim CLO.”
Sounds positive; it’s not a case of rats leaving a sinking ship.
$envx
New form S-3 is explained in the attached.
It’s not necessarily dilutive; it may be at some point in the future if they announce an offering but that’s probably not happening anytime soon.
stocktitan.net/sec-filings/E…
The trigger for this filing is the new warrants.
It is a streamlined shelf registration statement serving 2 main functions:
1. It includes the specific prospectus supplement detailing the terms, registration, and distribution rules for the 65.6M warrants and the underlying common stock tied to the 1-for-4 warrant dividend.
2. Form S-3 acts as a broad master framework that registers $envx to potentially offer a mix of securities (common stock, preferred stock, debt securities or warrants) from time to time.
So while the filing's primary purpose is executing the warrant dividend, the legal document itself is an overarching shelf registration structure that covers broader securities issuance capabilities.
$envx
is seemingly partnering with pack integrator Joules Miles.
By using Taiwan based JM to build pre-integrated battery packs, end-customers can adopt Enovix's batteries without having to develop complex power management systems from scratch.
JM focuses on getting advanced batteries into emerging product sectors such as smart glasses, premium wearables, robotics and aerospace/UAV.
Enovix is actively building the supply chain infrastructure needed to turn their batteries into mass-market commercial products.
spencer baker retweeted
This looks intriguing! @Grok could this benefit $ENVX? It’s one of my BIG 4 potential catalysts.
DOE Launches Battery Manufacturing Accelerator to Strengthen U.S. Competitiveness
energy.gov/cmei/ammto/articl…
My Enovix $ENVX BIG 4 potential catalyst list.. next 12-36 months.. blue sky not base or even bull case (so very speculative) @Grok brainstorming here, anything you would add..
1) Hires rockstar CEO (Big tech c-suite name)
2) Receives major equity investment from a hyperscaler or major investor like SoftBank or a SWF
3) Secures a massive PO (equal to current market cap) or signs a transformative deal
4) Obtains a massive investment from the U.S. government for national defense
$envx 👀
$envx
Excerpts from Anduril’s PR:
“Anduril has already developed functional prototypes of the first BlueChip laptop and plans to begin taking orders in 2027. The engineering effort includes designing the enclosure for U.S. machining, developing battery and power management systems to accommodate existing American battery technology
Components sourced from U.S. and allied-country suppliers account for more than 90% of the BlueChip prototypes’ component procurement cost. Anduril is working to expand domestic component production ahead of planned availability in 2027, with the long-term goal of building a fully domestic supply chain
BlueChip laptops will be manufactured in the United States, with circuit board assembly planned for Anduril's Arsenal-1 facility in Ohio. Anduril is developing domestic production capabilities for enclosures, battery components, and other hardware while qualifying suppliers and preparing for production
The United States has already invested billions of dollars in expanding domestic semiconductor production, but manufacturing complete computers also requires circuit boards, displays, batteries, and other components still largely produced overseas.”
Anduril partnering with $qcom for this project makes sense. As does partnering with @EnovixBatteries , although such a partnership is speculation rn.
anduril.com/news/anduril-and…
$envx repurchased $100 million of the 2030 Notes for $63 million, representing 37% discount to par. This also means Enovix is saving $4.75 million per year in interest payments.
$envx
Positives of new warrant dividend, according to StockTitan:
Special dividend grants one no-cost warrant per four shares; convertible noteholders receive pass-through warrants.
2030 note repurchase retired $100 million principal for $63.1 million, increasing net cash by $36.9 million.
2028 note exercises would retire surrendered principal and reduce future interest obligations without cash repayment.
Cash warrant exercises would add liquidity, including funding for Korean drone battery capacity.
